The deal will enable Biomed to begin renovating the buildings. They include two lab and office buildings at 200 Sidney St. and 40 Erie St., with a total of 239,000 square feet, that were leased to Vertex through this December, and another 21,000 square feet at 21 Erie St. that was leased to Vertex through May 2017.

Biomed said it will update the buildings’ entrances and lobbies, and add indoor and outdoor collaboration spaces and fitness centers. The work will begin immediately and the sites should be ready to be leased to new tenants starting in September, the developer said.